The US Treasury’s long-term treasury bond auction was not as expected, causing USDX to weaken again, but has supported commodity purchasing power for emerging currencies.
Robusta London T5 / 2021 chart session on March 10, 2021
At the end of the session, Robusta coffee prices on ICE Europe – London continued to rise. May spot futures increased by 10 USD, to 1,410 USD / ton and July futures increased by 13 USD, to 1,433 USD / ton, the significant increases. Trading volume quite high above average.
Similarly, Arabica coffee prices on the ICE US – New York floor increased for the third consecutive session. May spot futures increased 0.45 cents, to 130.85 cents / lb and July futures also increased 0.45 cents, to 132.85 cents / lb, the significant increase. Trading volume in mGermany medium.
The price of coffee beans in the Central Highlands provinces increased by 100-200 VND, up fluctuating in the framework of 32,500 – 33,100 VND / kg.
Export Robusta coffee price type 2, 5% broken black, stood at 1,493 USD / ton, FOB – HCM, with the plus difference at 50-60 USD / ton in term of July in London.
Reais copper rose 2.36%, to 1 USD = 5,6550 Reais, the biggest increase since the beginning of the year due to domestic market reaction to two foreign exchange auctions by the Central Bank of Brazil ( BC) and the approval of the $ 1.9 trillion stimulus package in the US.
Coffee prices continued to rebound as the Reais copper strengthened, encouraging Brazilians to decrease selling and short-term speculation in futures markets were also more cautious.
Reported data by Vietnam Customs showed that coffee exports, mainly Robusta coffee, in February only reached 122,833 tons (about 2.05 million bags), down 23.5% from the previous month, leading to coffee exports in the first 2 months of 2021, totaling 283,339 tons (about 4.72 million bags), down 14.7% compared to the first 2 months of 2020.
English (giacaphe.com)
